Hedge Fund Industry Urges SEC, CFTC to Slow 24/7 Trading Push

The pushback is notable less for its substance than its source: the firms most able to staff around-the-clock desks are asking for caution, which suggests the concern is about market structure and operational risk rather than their own capacity. It puts the SEC and CFTC in the familiar position of balancing global-market competitiveness against settlement, liquidity and surveillance gaps that overnight sessions can widen. Whether the regulators treat this as a timing question or a merits question is the open issue, and the eventual scope of any extended-hours regime is what the rest of the market will be watching.